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Summary MKC is a dominant provider of spice and seasoning products to the commercial and industrial markets. It leveraged its balance sheet to acquire Reckitt Benckiser’s Food Division (‘RBFD’) for ~$4.21B in 2017 but management is committed to a significant reduction in debt levels by the end of fiscal 2020. Growth in revenue and margins [...]
On Saturday morning, February 24, 2018, Warren Buffett’s much anticipated 2017 Letter to Shareholders was released; Buffett’s Shareholder Letters dating back to 1977 can be accessed here. By the time I compose this post (the afternoon of February 25, 2018) I have already read his letter three times; I will undoubtedly read it several more [...]
Summary On October 25th Visa reported strong Q4 and 2017 earnings. Growth was experienced in payments volume, cross-border volume, and processed transactions. V reported a broad list of accomplishments and initiatives in process including the integration of the European operations which is proceeding ahead of plan. While V increased the quarterly dividend ~18% to $0.195/share/quarterly, [...]
I have recently modified the site’s format. You can now access my FFJ Portfolio and the FFJ Portfolio Dividend Income reports from the menu at the top of this site. I have also modified the reporting format of the monthly dividend income report in an effort to make it easier to read. During the month [...]
This post reflects the FFJ Portfolio activity in July 2017 and the YTD dividend income generated from investments held in the portfolio. [...]
Summary This post addresses YTD changes and changes expected to occur within the next 4 - 6 weeks in the FFJ Portfolio. We have been able to transfer shares to the FFJ Portfolio as a result of a recent review of our long-term cash flow requirements. I anticipate a significant inflow of funds within the [...]
I crafted the following list of stock picking rules to follow because selecting companies in which to invest can be a daunting undertaking. There are so many companies from which to choose which is why it is wise to pay heed to what Warren Buffett wrote in the 1977 Berkshire Hathaway annual report. Berkshire Hathaway [...]
Summary This VISA stock analysis is based on Q1 results and outlook for the remainder of fiscal 2017 which were released February 2, 2017. Visa reported reasonably solid results for Q1 2017 on February 2, 2017. While I would be prepared to buy shares at $82, we already have a full position. I will, therefore, [...]
In response to my January 12, 2017 Visa - I Will Never Sell This Holding post, some readers commented that Bitcoin or Blockchain technologies would likely disrupt the financial industry to the extent where VISA could likely see an erosion of its business model. The purpose of this brief post is to give my opinion [...]
Summary VISA appears expensive at current levels but this is a result of several sizable one-time charges. The legal issue as it relates to interchange fees has still not been resolved. Even if VISA ends up having to pay a multi-billion dollar fine the interchange fee legal case should not dissuade investors from initiating / [...]
